Each year, millions of older Americans seek the companionship that a pet offers when they lose a spouse. A pet can give you unconditional love and affection while you live out your golden years. Your pet asks for very little in return. Love, affection, food, and shelter. Don’t you owe it to your pet to make sure that he or she will not end up in a shelter, or worse, when you die?
Sadly, many of the pets that people own end up in a shelter when their owner dies. A pet may not require much, but someone must take care of him or her on a daily basis. When the owner dies, if no one steps in to assume that responsibility then there is no choice but to send the animal to a shelter. Many of these shelter animals end up being euthanized if no one adopts them. A simple way to prevent this from happening to your companion is to create a pet trust.
Once a pet trust is in place, the animal will immediately be placed in the hands of the trustee upon your death. The trustee will ensure that a suitable caregiver is found for your pet and will have immediate access to sufficient funds to provide for the animal as well. Take the time to talk to your estate planning attorney today about including a pet trust in your estate plan.
- How Will You Age in Place and Be Able to Die at Home? - August 16, 2020
- Beneficiary Designations and Other Non-Probate Transfers - August 15, 2020
- Leaving Assets Can Be Tricky – Part 3 - August 13, 2020